After ethereum fell off its peak. Many say it has fallen too far. I looked at it carefully. It was bigger, about 70%. It's tougher than Bitcoin. But if you look at it from the beginning of this bull market, ethereum's gains have been pretty scary. He's up more than 50 times.
Ethereum was originally born based on this idea. If bitcoin can decentralize money, what else can be decentralized? Smart contracts. A: We have a Smart contract
It's a bit of a misnomer, actually, because I would say it's not smart, it's not smart. You meet the conditions and then you execute, I think it's called a machine contract or an automation contract.
Is a program, as long as the chain reached the conditions, such as some values, will automatically trigger the network implementation mechanism. He also records some data about the whole process on each node, just like bitcoin
Ethereum is a little different from Bitcoin. Mainly in accounts and details. It has two types of accounts. One is called a trading account and one is called a contract account.
Trading accounts can initiate transactions. It's like a Bitcoin account, and you can call a smart contract. A contract account cannot initiate a trade; it can only invoke another smart contract or be invoked by a trading account
Why do you do that? As I mentioned before, bitcoin needs to be protected against double payments, so it needs to record transactions. There is a concept of a UTXO account, which records the process of transactions rather than the outcome.
When you transfer bitcoin, say you have ten dollars and you want to transfer seven of them, not just seven, but the whole ten dollars. And then transfer the extra money to a new account
To put it simply, bitcoin accounts are constantly changing. Ethereum doesn't. Why? Because ethereum has to run a contract, and you sign a contract with someone, and after you sign a contract, you change your name, you change your identity, and that doesn't work
Ethereum's value comes precisely from its ability to run contracts. There are so many things in the world that require us to sign contracts and resolve trust issues.
Why the Ethereum fire earlier? The key is the DEFI application. Decentralized finance. Why did finance catch fire first? Because finance is just numbers. These things are easier to put on the chain.
You have to put a house on a blockchain icon, it's a lot of trouble. To establish the connection between the real world and the virtual world, it needs some low-level system and legal arrangement, and requires the intervention of ZF law
Financial? Sometimes you just need to take some of the price of the implementation, take some of the real assets, and the virtual world gives you the corresponding token, so it grows very fast.
All kinds of pledges, all kinds of loans, all kinds of contracts are triggered by the related fees, the so-called gas fees, which in turn are purchased by the Ether Icon
Too many contracts run out, gas rates rise dramatically, there is less Ethereum circulating in the market, and the price speaks for itself.
Another good thing is NFT, which has become popular recently. So it's a non-homogeneous token. To put it bluntly, the art is stored on the Internet in a unique digital form and then traded. Like a famous painting, like a movie, make a digital version of it
So I'll stick with that. Ethereum is a village, it's a village, it's a village, it's a village, it's a village, one family has an idea, one family has an idea, the village gets richer and richer
Ethereum has had a few more good news recently. One is after 519. For large accounts, ethereum holdings have not changed and are even increasing. Some small retail accounts have been reduced
This shows that the wealth is gathering in the head, that is, there is a big money is gradually adding to ethereum. And small retail investors are running. Those of you who invest in other things know that when something becomes institutionalized, it's hard to die
Another thing is, I saw a g in Yang's line earlier. He said he personally thinks our digital yuan could be put on Ethereum in the future. Two key words, one is likely, and one is personal
You know, people in this position don't say anything, either they have an internal consensus, or they have an agenda higher up, you know
I've talked about this before. What would it mean if the digital yuan were fully implemented and entered cryptocurrency transactions?
The first is the replacement of stablecoin. Currently, there is a lack of regulation on stablecoins. If there are stablecoins endorsed by the government, the original stablecoins will definitely be threatened.
And then there's regulation. Cryptocurrencies do some of the underground things that are hard to regulate, and you know the public key doesn't know who it is.
In the future, if the digital RMB can be implemented, there will be no problem with this supervision, the flow of each sum of money. Where are we, as clear as day
The benefits are all too obvious. The first is regulation. If you have a tax on capital gains, for example, it's very easy, and the cost of that tax is very low, and you just have to scale back
One more thing, if you think about it, if this thing hits the ground, then the whole cryptocurrency market can be completely legitimate, compliant, legal. Now there is always some policy news out of the blue, some funds will run away. If this thing hits the ground, it'll be reassuring. Even if it's taxed and regulated, there's still a lot of money pouring in.
If it is completely legal and compliant, some of its derivatives and etficon may be born, and a large number of institutions and a large number of major funds may enter, which should be the time of the outbreak. And ethereum as the whole system of the matrix, its future should also be unlimited.